Wentworth Resources PLC Notice of Results (1345J)

TIDMWEN

RNS Number : 1345J

Wentworth Resources PLC

08 April 2020

PRESS RELEASE 8 April 2020

WENTWORTH RESOURCES PLC

("Wentworth" or the "Company")

Revised Notice of 2019 Full Year Results

Wentworth, the AIM (AIM: WEN) listed independent, East Africa-focused natural gas company, announces that, as a consequence of the global COVID-19 pandemic and the Financial Conduct Authority's guidance on the publication of results during this time, given the level of business and economic uncertainty, the 2019 Full Year Results, which were due to be announced today, will now be delayed and are expected to be released later this month.

In line with our announcement on 10 March 2020, the Board expects the full results for the year ended 31 December 2019 to be in line with management expectations. Our operations continue unaffected by COVID -19 and, with our strong cash position and consistent payments for gas sales, we remain fully committed to the previously indicated dividend policy.

 
Enquiries: 
 Wentworth                         Katherine Roe,                      [e-mail] 
                                   Chief Executive Officer             [phone] 
 
                                 Nominated Adviser and Joint Broker 
                                  Callum Stewart 
                                  Ashton Clanfield 
Stifel Nicolaus Europe Limited    Simon Mensley                         [phone] 
                                 Joint Broker 
                                  Richard Crichton 
 Peel Hunt LLP                    Alexander Allen                      [phone] 
 
 FTI Consulting                  Public Relations Adviser              [phone] 
                                  Sara Powell                           [e-mail] 
                                  Ben Brewerton 
 

About Wentworth Resources

Wentworth Resources is a publicly traded (AIM: WEN), independent natural gas company with production, exploration and appraisal opportunities for domestic power generation and local industry in the Rovuma Delta Basin of coastal southern Tanzania.

Inside Information

The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 ("MAR"). On the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Cautionary note regarding forward-looking statements

This press release may contain certain forward-looking information. The words "expect", "anticipate", believe", "estimate", "may", "will", "should", "intend", "forecast", "plan", and similar expressions are used to identify forward looking information.

The forward-looking statements contained in this press release are based on management's beliefs, estimates and opinions on the date the statements are made in light of management's experience, current conditions and expected future development in the areas in which Wentworth is currently active and other factors management believes are appropriate in the circumstances. Wentworth undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable law.

Readers are cautioned not to place undue reliance on forward-looking information. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties that contribute to the possibility that the predicted outcome will not occur, including some of which are beyond Wentworth's control. These assumptions and risks include, but are not limited to: the risks associated with the oil and gas industry in general such as operational risks in exploration, development and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the imprecision of resource and reserve estimates, assumptions regarding the timing and costs relating to production and development as well as the availability and price of labour and equipment, volatility of and assumptions regarding commodity prices and exchange rates, marketing and transportation risks, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in applicable law. Additionally, there are economic, political, social and other risks inherent in carrying on business in Tanzania. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements.

-Ends-

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April 08, 2020 02:00 ET (06:00 GMT)